Abstract:
This thesis describes the development of a Decision-Making Assessment Tool, which examines decision-making styles for the use of inappropriate heuristics in business settings. A score on the test indicates how employees make decisions relative to what normative models suggest is the best way to decide. It was hypothesised that decision-making ability would correlate with academic ability. However, item analysis versions of the test showed no correlation with a dependent variable measure of academic achievement. Explanations for this are discussed. The development description is followed by a suggestion for a training program that alerts the decision-maker to the biases they are demonstrating, and corrects the strategy at fault by creating new cognitive schemata, using techniques from cognitive psychology. The potential applications of the test in the corporate world include anywhere that effective decision-making is a requirement.
